Investing in Spain

[Jacob Gildea]

My brother and sister in law are Spanish and I was talking to them about investing in rental properties.  He is an architect and she is a lawyer.  She processes several foreclosures a month and he would be perfect at rehabbing properties.  The economy is still down in Spain so I think the time to buy is right.  My problem is that I don't know several things and I was hoping the BP community could help me out.  As background they live in Alicante, so long term rentals and vacation rentals would be an option.

1.  Is there a good site, similar to Zillow, in Spain that shows what real estate is selling for and what they are renting for?

2.  Are there any tax benefits in Spain like there are here in the United States?

3.  Are there any books or investment communities (like BP) that deal with investing in Spain?

Thanks for your help,

Jake